Chevron
North America Crude Oil Marketing - July 2003 Summary California Bulletins 03-CA110 to 03-CA123, with Monthly Averages

Chevron has changed its posted prices as shown below:

Effective 7:00 AM on the above listed effective date, subject to change without notice, Chevron will pay the following prices per barrel for crude oil and condensate delivered for its account into the custody of its authorized carrier or receiving agent. Prices are subject to deduction for transportation and other charges where applicable. Prices for oil apply to quantities measured by approved automatic custody transfer facilities or 100% tank table with customary adjustment of volume and gravity for temperature and full deduction for sediment and water.

* Prices are subject to a Gravity Adjustment Scale
CaliforniaAPICA110
07/02
CA111
07/03
CA112
07/07
CA113
07/09
CA114
07/11
CA115
07/15
CA116
07/16
CA117
07/17
Asphalto27.6027.8527.6028.3528.6029.1028.6028.85
Belridge Hvy (under 28°)24.9025.1524.9025.6525.9026.4025.9026.15
Belridge Lt (over 28°)27.5027.7527.5028.2528.5029.0028.5028.75
Buena Vista Hills26.7026.9526.7027.4527.7028.2027.7027.95
Cal Canal28.4028.6528.4029.1529.4029.9029.4029.65
Coalinga25.2025.4525.2025.9526.2026.7026.2026.45
Cymric24.6024.8524.6025.3525.6026.1025.6025.85
Huntington Beach25.5025.7525.5026.2526.5027.0026.5026.75
Kern River24.7525.0024.7525.5025.7526.2525.7526.00
Kettleman Hills27.8028.0527.8028.5528.8029.3028.8029.05
Lost Hills27.4527.7027.4528.2028.4528.9528.4528.70
McKittrick24.7525.0024.7525.5025.7526.2525.7526.00
Midway Sunset24.7525.0024.7525.5025.7526.2525.7526.00
Montebello26.3526.6026.3527.1027.3527.8527.3527.60
Pt Arguello (onshore)21.0521.3021.0521.8022.0522.5522.0522.30
Railroad Gap27.5027.7527.5028.2528.5029.0028.5028.75
San Ardo23.2523.5023.2524.0024.2524.7524.2524.50
Seal Beach27.1027.3527.1027.8528.1028.6028.1028.35
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.00000.00000.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.01000.01000.0100
Below 34.0°API0.01500.01500.01500.01500.01500.01500.01500.0150
CaliforniaAPICA118
07/18
CA119
07/21
CA120
07/22
CA121
07/24
CA122
07/30
CA123
07/31
 Mthly
Avg
Asphalto29.3529.1027.6027.8528.1027.85 28.2290
Belridge Hvy (under 28°)26.6526.4024.9025.1525.4025.15 25.5290
Belridge Lt (over 28°)29.2529.0027.5027.7528.0027.75 28.1290
Buena Vista Hills28.4528.2026.7026.9527.2026.95 27.3290
Cal Canal30.1529.9028.4028.6528.9028.65 29.0290
Coalinga26.9526.7025.2025.4525.7025.45 25.8290
Cymric26.3526.1024.6024.8525.1024.85 25.2290
Huntington Beach27.2527.0025.5025.7526.0025.75 26.1290
Kern River26.5026.2524.7525.0025.2525.00 25.3790
Kettleman Hills29.5529.3027.8028.0528.3028.05 28.4290
Lost Hills29.2028.9527.4527.7027.9527.70 28.0790
McKittrick26.5026.2524.7525.0025.2525.00 25.3790
Midway Sunset26.5026.2524.7525.0025.2525.00 25.3790
Montebello28.1027.8526.3526.6026.8526.60 26.9790
Pt Arguello (onshore)22.8022.5521.0521.3021.5521.30 21.6790
Railroad Gap29.2529.0027.5027.7528.0027.75 28.1290
San Ardo25.0024.7523.2523.5023.7523.50 23.8790
Seal Beach28.8528.6027.1027.3527.6027.35 27.7290
Gravity AdjustmentPrice Adjustment $/bbl/Tenth°API
Above 40.0°API0.00000.00000.00000.00000.00000.0000 0.0000
34.0° to 40.0°API0.01000.01000.01000.01000.01000.0100 0.0100
Below 34.0°API0.01500.01500.01500.01500.01500.0150 0.0150
Note: Prices in $/bbl

Measurement
The prices are based upon computation of quantities by mutually acceptable automatic measuring equipment in accordance with the latest ASTM Standards and API Manual of Petroleum Measurement Standards (MPMS) generally accepted in the petroleum industry with deductions for full sediment, water and other impurities.

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